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China's northernmost city Mohe in Heilongjiang province welcomes the first snow in the second half of the year on Sept 15, about 25 days earlier than last year. [Photo by Wang Jingyang for chinadaily.com.cn]

China's economy is advancing along the path of high-quality development, Liu said. "We are optimistic about the economic outlook this year, and we have more confidence in our economy for the long run," he added.

China's non-manufacturing sector expanded at a faster pace in September, official data showed Sunday.

China's nominal retail sales grew by 10.1 percent year-on-year in March, beating economists' expectation and underscoring the country's resilient domestic consumption, official data showed on Tuesday.

China's financial system is stable, with the systemic risk under control thanks to the steady growth of social financing and strengthened profitability in listed companies in the first half of this year, Guo Shuqing, Party secretary of the People's Bank of China, the central bank, and chairman of the China Banking and Insurance Regulatory Commission, said in a Thursday interview with the bank's newspaper, Financial News.